The UK’s prime housing market has performed strongly since the first lockdown was lifted and despite the coronavirus restrictions, many buyers and sellers remain committed in that market, which represents broadly the top 5-10% by value.

It is hoped that the successful rollout of a vaccine against Covid-19 will act as a further confidence boost that will help sustain the property market beyond the end of the stamp duty holiday.

Savills surveyed more than 1,300 prime market sellers and prospective buyers during the second UK-wide lockdown and found that while there was slightly greater caution about the prospects of moving within the next three months, the lockdown had largely served to reaffirm widespread commitment to moving before the end of 2021.

Over two-thirds of respondents – 67% – said that the second lockdown had no impact on their hope of moving over the next year, and a net balance of 17% said it had made them even more committed. A net balance of only 2% said it had made them less committed to a move in the short term.

Net balances of 13% and 23% of respondents said a vaccine would increase their commitment to moving in the next three and 12 months respectively. This, coupled with increased appetite for lifestyle change identified by this and previous surveys will continue to support demand for properties with gardens, and homes in villages and more rural settings through next year.

“There has been much conjecture as to whether some of the changes in buyer priorities and preferences brought about by the events of 2020 will continue once a vaccine is found and whether March 31 could represent a cliff-edge in the market,” said Lucian Cook, head of residential research at Savills.

He added: “We do expect the economic effects of the pandemic to weigh more heavily on the housing market next year, but it looks as though there is a surprising seam of demand among more affluent buyers that is much less sensitive to these factors than the wider market.”